Washington Capital Management Inc. Acquires Shares of 32,500 Asana, Inc. (NYSE:ASAN)

Washington Capital Management Inc. bought a new position in shares of Asana, Inc. (NYSE:ASAN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 32,500 shares of the company’s stock, valued at approximately $377,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Asana by 3.6% during the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after buying an additional 803 shares in the last quarter. Diversified Trust Co boosted its holdings in Asana by 2.6% in the 2nd quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after purchasing an additional 900 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares during the period. ProShare Advisors LLC boosted its stake in shares of Asana by 12.1% in the first quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock valued at $245,000 after buying an additional 1,710 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Asana by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after buying an additional 1,769 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at approximately $4,499,966.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,092 shares of company stock worth $752,668. Company insiders own 63.97% of the company’s stock.

Asana Trading Up 0.4 %

Shares of ASAN traded up $0.05 during mid-day trading on Tuesday, reaching $12.25. 671,013 shares of the company were exchanged, compared to its average volume of 2,046,636. The business has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $13.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $2.79 billion, a PE ratio of -10.43 and a beta of 1.14. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $23.44.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. During the same quarter in the previous year, the company earned ($0.31) EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts predict that Asana, Inc. will post -1.14 earnings per share for the current fiscal year.

Asana announced that its Board of Directors has approved a share repurchase plan on Thursday, June 20th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on ASAN. Citigroup cut their target price on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley decreased their target price on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price target on shares of Asana in a report on Wednesday, September 4th. Bank of America decreased their price target on Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Oppenheimer dropped their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.07.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.